The final putt drops, a new champion slips on the iconic Green Jacket, and the golf world celebrates. But beyond the tradition and prestige, a win at Augusta National comes with one of the most significant paychecks in golf. This article breaks down exactly how the massive Masters purse is distributed, from the life-changing sum awarded to the winner down to the cash prize given to players who don't even make the weekend.
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Understanding the Masters Prize Purse
Unlike regular PGA Tour events that announce their prize money well in advance, Augusta National Golf Club keeps its purse under wraps until tournament week. The total figure for the prize money is typically revealed on the Saturday of the tournament, adding another layer of anticipation to the weekend. This amount isn't arbitrary, it’s determined by the club based on the tournament's overall revenue, which includes colossal broadcast rights deals, merchandise sales that are the envy of the sports world, concessions, and ticket sales (or patron badges). Over the decades, this purse has seen monumental growth, reflecting the tournament's booming popularity.
A Record-Shattering Year in 2024
The trend of ever-increasing purses continued in a big way at the 2024 Masters. Augusta National announced a record total prize purse of $20 million, a $2 million increase from the $18 million offered in 2023. This puts the Masters on par with the other biggest paydays in men's professional golf.
For comparison, here's how it stacked up against the other majors in 2023:
PGA Championship: $17.5 million
U.S. Open: $20 million
The Open Championship: $16.5 million
The jump to $20 million solidified the Masters' place among the most lucrative tournaments for professional golfers to win.
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Once the total purse is set, the distribution follows a specific formula modeled on the PGA Tour's standard structure. Standing on the 1st tee at Augusta is an accomplishment in itself, and playing well enough to make the cut guarantees a substantial financial reward. For aspiring golfers, understanding this structure paints a clear picture of what's at stake on every single shot down the stretch on Sunday.
The Champion's Historic Payday
The winner of the Masters Tournament receives 18% of the total prize purse. In 2024, that meant Scottie Scheffler not only earned his second Green Jacket but also took home a staggering check for $3.6 million. This single payday is more than what many professional athletes make in an entire year and can financially set up a player and their family for life.
But the money is just one part of the prize. The winner also gets:
The money drops off from the winner's share, but making the top 10 is still an incredibly lucrative accomplishment. Here's a look at the place-by-place payout for the top finishers at the 2024 Masters:
1st (Winner): $3,600,000
2nd: $2,160,000
3rd: $1,360,000
4th: $960,000
5th: $800,000
6th: $720,000
7th: $670,000
8th: $620,000
9th: $580,000
10th: $540,000
From the winner's share down, the percentages are predetermined. Here's how it continues as you move down the leaderboard. The drop-offs remain significant, but even finishing 50th at Augusta comes with a payday many people don't see in a year.
11th: $500,000
15th: $390,000
20th: $290,000
25th: $222,000
30th: $177,000
35th: $147,000
40th: $123,000
45th: $103,000
50th: $50,400 (The lowest amount paid to a player making the cut varies based on how many players make it. Anyone finishing below 50th in a given year would receive amounts starting at $49,200 and decreasing from there)
The Rules for Ties and Missed Cuts
Golf leaderboards are rarely clean. Ties are common, and how the prize money is handled in those situations is straightforward. Augusta National also has a unique tradition regarding players who don't play on the weekend.
How Are Ties Handled in the Payout?
When two or more players finish in the same position, their prize money is calculated by taking the total prize money for all the tied spots, adding it together, and then dividing it evenly among the players. This prevents a player from being unfairly punished financially for being in a tie.
Let’s use a real example from the 2024 Masters, where Collin Morikawa, Tommy Fleetwood, and Max Homa all tied for 3rd place.
You identify the positions involved in the tie: 3rd, 4th, and 5th.
You add the prize money for each of those positions:
3rd Place Prize: $1,360,000
4th Place Prize: $960,000
5th Place Prize: $800,000
The total sum is $1,360,000 + $960,000 + $800,000 = $3,120,000.
You then divide that total by the number of players who tied (3):
$3,120,000 / 3 = $1,040,000.
So, instead of the 3rd place finisher getting $1.36M and the 5th getting $800k, all three players each walked away with a check for $1.04 million. The same math applies to any tie further down the leaderboard.
Do Masters Participants Who Miss The Cut Get Paid?
Yes, they do - and this is a tradition unique to the Masters among men's major championships. Augusta National pays every professional who participates in the tournament, even if they miss the 36-hole cut.
In 2024, every professional who missed the cut was given a $10,000 stipend. While it pales in comparison to what those on the leaderboard earn, it is a significant gesture from the club. It acknowledges the immense dedication, cost, and achievement it takes just to qualify for the event. For touring professionals who have to pay their own travel, lodging, and caddie expenses, this payment helps offset the cost of the week.
It's important to note this payment only applies to professionals. The amateurs who qualify and compete in the Masters - a long-standing tradition of the event - do not receive any prize money to maintain their amateur status.
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While the financial windfall of a great week at Augusta is life-changing, the true value of performing well at the Masters extends far beyond the bank account. From a coaching perspective, the confidence and career validation that comes from conquering one of golf's toughest tests is immeasurable. A strong finish, especially a win, unlocks a world of opportunity.
Endorsement deals skyrocket. Appearance fees for other tournaments increase. The title of "Masters Champion" opens doors for the rest of a golfer's life, from business ventures to media opportunities. Holding a spot in the Champions Locker Room and receiving an invitation to the Champions Dinner for life are the kind of priceless "money-can't-buy" experiences that define a player's legacy.
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In summary, the Masters Tournament prize purse has become one of the largest in golf, with the winner taking home a massive 18% share of a $20 million pot. The payout structure rewards every player who makes the cut, with special provisions for handling ties and even a stipend for professionals who don't reach the weekend.
While competing for a multimillion-dollar prize at Augusta might be a dream, dramatically improving your own game is entirely within reach. To help with this, we created Caddie AI to be your personal on-demand golf expert. If you find yourself stuck behind a tree, facing an awkward lie in a bunker, or just feeling unsure of the strategy on a tough par 4, you can get immediate, simple guidance. It even uses photo analysis to give you precise instructions on how to play those tricky shots, bringing a little bit of pro-level decision-making to your game.
Spencer has been playing golf since he was a kid and has spent a lifetime chasing improvement. With over a decade of experience building successful tech products, he combined his love for golf and startups to create Caddie AI - the world's best AI golf app. Giving everyone an expert level coach in your pocket, available 24/7. Caddie's mission is simple: make world-class golf advice accessible to everyone, anytime.
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